NEAR Intents Freezes 11 Chains After $3.8 Million Hack
A $3.8 million smart contract exploit forced NEAR Intents to freeze transfers across 11 blockchains. The patch is live, but the locks remain.
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Key takeaways
- An exploit drained $3.8 million from NEAR Intents before the team patched the flaw.
- The protocol promised to fully compensate all impacted users.
- Deposits and withdrawals stay suspended across 11 blockchain networks.
An attacker just walked away with $3.8 million from NEAR Intents, exploiting a flaw in the protocol's smart contract code and forcing a complete service shutdown.
The team patched the code bug fast. Didn't fix the broader mess, though. Deposits and withdrawals across 11 separate blockchain networks are still totally frozen while engineers try to lock down the system.
Affected users won't take the hit, at least. The project claims it'll fully compensate every single victim for their lost funds.
Why it matters
Hackers love cross-chain tech. It's that simple. A single bad line of code just paralyzed transactions on 11 different blockchains, refunds and quick patches notwithstanding. If you're bridging or trading across multiple networks, get used to collateral damage whenever one small gear slips.
Source: The Block
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Alex covers crypto markets and trading, testing every platform hands-on before writing about it.
